Venture capital
 Start-up success

Title: Commercialization Council venture news
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00088889/00003
 Material Information
Title: Commercialization Council venture news
Series Title: Commercialization Council venture news
Physical Description: Serial
Creator: University of Florida Commercialization Council
Publisher: University of Florida Commercialization Council
Publication Date: February 2004
 Record Information
Bibliographic ID: UF00088889
Volume ID: VID00003
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.


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Table of Contents
    Venture capital
        Page 1
        Page 2
        Page 3
        Page 4
    Start-up success
        Page 5
        Page 6
Full Text
Venture Newsletter

Commercialization Council

February 2004

Momentum Growina at UF

Members of the
Commercialization Council

Office of Technology Licensing
David Day Director
Jane Muir Associate Director

Univ. of Florida Foundation

The entrepreneurial energy at the University of Florida is
at an all-time high. Recapped below are highlights of
various events and activities that demonstrate the
enthusiasm for entrepreneurship among faculty
innovators, business and community partners at the
University of Florida.


AGTC Raises $15,250,000 in Series A-1 Round

Applied Genetic Technologies Corporation, AGTC, a drug
research company developing novel human therapeutics,
announces that the Company has closed on a
$15,250,000 Series A-1 Round led by InterWest Partners
of Menlo Park, CA. Other participants in the round include
InterSouth Partners, MedImmune Ventures, Inc. and
Skyline Ventures.

The investment funds will be used by AGTC to complete
Phase I Human Clinical Trials and Phase II/III
manufacturing for its gene therapy treatment for Alpha-1
Antitrypsin Deficiency, Alpha-1, a form of emphysema.

This treatment is one of several human therapeutics under
development by the Company that utilizes its proprietary
AAV technology and production methods. AGTC has
licensed a significant portion of its intellectual property
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Venture Newsletter

Christopher Needles
Assistant VP/Development

Sid Martin Biotechnology
Development Incubator

Patti Breedlove Incubator Mgr.

The Commercialization Council
is funded by the

Research & Graduate
Programs Office.

Dr. Winfred M. Phillips
Vice-President & Dean,
Research & Graduate Programs

PO Box 115500
(352) 392-1582

The UFCC Venture e-newsletter is
sent to you by the University of
Florida Commercialization Council.

To be removed from the UFCC
Venture mailing list, please email

The information contained in UFCC
Venture may not be reproduced
without the permission of the
University of Florida
Commercialization Council.

I I I I I1 L.I I 1 IIV I I.i Ly JI I l Iil1 i VV Ii 1 I ^ I I .I 1 1 _
originated this ground-breaking work in gene therapy.

"The ability of our start-ups to generate capital has
multiple benefits for our community and the university,"
said David Day, Director of the University's Office of
Technology Licensing and Interim Director of the Sid
Martin Biotech Incubator. "By starting more high-tech
companies, we can enhance the economic base of our
local economy by creating high-paying jobs and
generating tax revenue. In turn, these successful
companies generate royalties for the university which can
be used to fund additional research. This also assists the
university in recruiting and retaining top-level faculty who
generate more research and new discoveries which can be
the basis for additional start-up companies."

AGTC is based in the University's Sid Martin Biotechnology
Development Incubator; this 35,000-sq. ft. facility
provides start-up biotech companies with support
essential for accelerating their launch into the
marketplace. AGTC is one of many young biotechnology
companies at the Incubator involved in the development
of biotech products that will benefit our society while
creating jobs to help Florida's economy.

Win-Win-Windfall: CEO of UF spin-off AGTC hands $650K check to VP
for Research (from left) UF researcher Nicholas Muzyczka; Susan Washer,
CEO of AGTC; Win Phillips, VP for Research & Graduate Programs; David Day,
Director, Office of Technology Licensing; Kevin Boggs, Licensing Officer,
Office of Technology Licensing.

Pasteuria Bioscience, LLC Nets $750,000

Pasteuria Bioscience, LLC plans to use the $750,000
investment from Advantage Capital Florida Partners of
Tampa and Gordon River Capital of Naples to accelerate
commercial production of its patent-pending nematode-

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Venture Newsletter

attacking technology. The technology promises to help
alleviate the $100-billion of crop damage nematodes
cause each year, representing agriculture's largest unmet
pest control problem to date.

Currently housed in UF's Sid Martin Business Development
Incubator, Pasteuria was recently featured at the 5th
annual Southeastern BIO Investor Conference (SEBIO),
the region's premier life sciences event. Company
representatives presented their wares to an audience of
venture capitalists.

"This funding arrangement is really an endorsement of a
new breed of technologies," said Bin Yan, Assistant
Director for Life Sciences at UF's Office of Technology
Licensing (OTL), "innovations that achieve incredible
outcomes at little or no expense to the environment."
Gordon River Capital was attracted to the investment in
Pasteuria Bioscence because of its nematicide's inherent
safety and the Environmental Protection Agency's desire
to see products like these make it to market.

OTL and EDA University Center have been involved in
mentoring Pasteuria Bioscience to prepare it for this kind
of opportunity.

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UF Program Trains Entrepreneurs of the Future

UF's Integrated Product & Process Design (IPPD) has
spawned an intensive entrepreneurial opportunity for
engineering and business students. In the Integrated
Technology Ventures (ITV) program, students form a
virtual start-up company around a UF inventor's product.
For two semesters, a team of 6 undergraduate
engineering students focus on the technology and design
concepts, while 2 MBA students create a business plan
and conduct market research. Funds from UF's EDA
University Center pay for an experienced entrepreneur to
serve as "virtual CEO."

The virtual company is supported by a variety of
commercialization specialists including those from UF's
Center for Entrepreneurship and Innovation (CEI) and the
Office of Technology Licensing (OTL). Participants are
responsible for creating a business plan and prototype for
entry in business plan competitions.

According to Al Marder, licensing officer with OTL, the ITV

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program will enable UF to capitalize on intellectual
property it already owns and be even more proactive
about creating university spin-offs. It's also an enormous
benefit for participating students. "Some of the more
aggressive students will have the chance to become
founding stockholders," Marder said, "which I think is
pretty exciting."

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Entrepreneur Roundtable February 19

UFCC is proud to announce the next event in our
Entrepreneur Roundtable series, featuring a panel of local
business leaders speaking on their experiences founding
and operating successful firms in the Gainesville area.
Speakers include:

Gary Miller, Exactech, Inc.
Tom Rothrock, Info Tech, Inc.
Jamie Grooms, AxoGen, Inc. (formerly of
Regeneration Technologies, Inc.)

The event will be held at the Gainesville Technology
Enterprise Center (GTEC) from 4-6PM on Thursday,
February 19. There is no charge. Wine and hors-d'oeuvres
will be served.

RSVP by Friday, February 13. For more information and to
register, contact Terry Lemesh at (352) 846-1840,

UF Helps Bring SEBIO to Florida in 2004

Florida will host this year's Southeastern Bio Investor
Conference, (SEBIO), November 7-9, 2004 at the Doral
Golf Resort & Spa in Miami, marking SEBIO's first trip to
the Sunshine State. This 6th annual conference will
feature the Southeast's best life sciences investment
opportunities, from ground to mezzanine stage, while
exploring research, market, and financing trends with
nationally recognized leaders from the investment and
bioscience industries.

David Day, Director of UF's Office of Technology Licensing
and a founding member of SEBIO, will serve as co-
chairman of this year's event along with David Gury,
Chairman of NABI Biopharmaceuticals. Patti Breedlove,
Manager of the Sid Martin Biotechnology Development
Institute at UF, is Recruitment Chair.

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The conference features early stage companies seeking
funding. UF spin-offs such as AGTC which recently
netted $15M in venture financing have presented at
SEBIO in recent years, and Day expects UF to be well
represented again this year. Over 400 attendees are
anticipated, representing billions of potential investment

For more information, check the SEBIO website.
Registration and application information will be added to
this site in coming months.

EDA University Center and GAIN Sponsor
SBIR/STTR Phase I Proposal Workshop

UF's EDA University Center and the Gainesville Area
Innovation Network (GAIN) are sponsoring a workshop for
UF entrepreneurs seeking funding to get technology-based
businesses off the ground. Attendees will learn to write a
successful proposal for the Small Business Innovation
Research (SBIR) program and the Small Business
Technology Transfer (STTR) program.

The instructors, Jim and Gail Greenwood of Greenwood
Consulting, are nationally known for their expertise and
success in helping companies and entrepreneurs like you
achieve success in these programs. See their website.

"This workshop is a great opportunity for young
companies," said Jane Muir, Director of UF's EDA
University Center and Associate Director of the Office of
Technology Licensing. "SBIR and STTR are excellent
funding sources that do not need to be repaid and claim
no equity stake."

The SBIR/STTR Phase I Proposal Preparation Workshop,
sponsored by EDA University Center and the Gainesville
Area Innovation Network (GAIN), will be held Friday, April
2, 2004 from 7:30 a.m. 4:30 p.m. at the Hilton
University of Florida Conference Center, 1714 SW 34th
Street, Gainesville.

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UF Tech Transfer Improves Building and Bridge

Smart Structures, Incorporated (SSI) is a newly formed
company that uses UF-developed technology to measure

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Venture Newsletter

stresses on concrete piles used as the foundation for
buildings and bridges. The technology casts a wireless
sensor package directly into wet concrete piles, so that
when the piles are driven into the ground it sends load
capacity data that helps engineers monitor the structural
integrity of the project. SSI's approach solves the cost-
accuracy trade-off of load testing by making it cost
effective to test every pile in a foundation, ultimately
leading to safer structures.

This promising partnership between industry and
academia resulted from the proactive efforts of Alan
Marder, a licensing officer at UF's Office of Technology
Licensing, who introduced the primary inventor, Dr.
Michael McVay of UF's Civil and Coastal Engineering
Department to what later became SSI's executive team:
Tom Chiarella and Richard Hecht, both formerly of Questra

According to Marder, "It's great to be involved in making a
connection like this between a solid technological
innovation and an experienced management team. This is
what tech transfer is all about, serving faculty and
community by getting the results of UF's cutting edge
research out there where people can benefit from it."

McVay agrees, "This invention is going to fulfill its
potential in the marketplace. That's a really exciting
opportunity for a technology that began in a university

Most recently, SSI filed a successful application for a
space in the Gainesville Technology Enterprise Center
(GTEC), and will move into the incubator facility in coming

For more information, contact Jane Muir, Associate
Director of Marketing and Operations, Office of Technology
Licensing, at (352) 392-8929 or by email at

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Check here for upcoming events:

Calendar of Events

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